Advisor Group Holdings Inc. increased its position in Lloyds Banking Group plc (NYSE: LYG – Get Rating) by 44.4% in the first quarter, according to its latest 13F filing with the Securities and Exchange Commission. The company held 378,461 shares of the financial services provider after acquiring an additional 116,290 shares during the quarter. Advisor Group Holdings Inc.’s holdings in Lloyds Banking Group were worth $1,292,000 as of the date of its last SEC filing.
Several other hedge funds and other institutional investors also changed their holdings of LYG. Gluskin Sheff & Assoc Inc. bought a new position in shares of Lloyds Banking Group during Q4 for a value of approximately $11,947,000. Janney Capital Management LLC bought a new position in shares of Lloyds Banking Group during Q1 for a value of approximately $9,728,000. Bank of America Corp DE increased its position in Lloyds Banking Group shares by 124.3% during the 4th quarter. Bank of America Corp DE now owns 6,602,005 shares of the financial services provider worth $16,835,000 after purchasing an additional 3,658,022 shares during the period. Northern Trust Corp raised its position in Lloyds Banking Group shares by 17.3% during the fourth quarter. Northern Trust Corp now owns 10,649,272 shares of the financial services provider worth $27,155,000 after buying an additional 1,570,999 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Lloyds Banking Group shares by 17.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,926,528 shares of the financial services provider worth $20,211,000 after purchasing an additional 1,184,602 shares during the period. Institutional investors hold 1.41% of the company’s shares.
Lloyds Banking Group shares fall 3.7%
NYSE LYG opened at $2.10 on Friday. The stock has a 50-day moving average of $2.10 and a 200-day moving average of $2.29. The stock has a market capitalization of $36.25 billion, a P/E ratio of 6.56, a price-to-earnings growth ratio of 0.20 and a beta of 1.28. Lloyds Banking Group plc has a 52 week low of $1.90 and a 52 week high of $3.00. The company has a debt ratio of 1.70, a quick ratio of 1.14 and a current ratio of 1.14.
Lloyds Banking Group cuts dividends
The company also recently declared a semi-annual dividend, which will be paid on Thursday, September 22. Shareholders of record on Monday August 8 will receive a dividend of $0.0385. The ex-dividend date is Friday August 5th. This represents a dividend yield of 4.7%. Lloyds Banking Group’s dividend payout ratio is currently 25.00%.
Wall Street analysts predict growth
Several equity analysts have recently commented on LYG shares. Barclays raised its price target on Lloyds Banking Group from GBX 52 ($0.63) to GBX 55 ($0.66) in a Friday, July 29 research report. Royal Bank of Canada raised its price target on Lloyds Banking Group from GBX 42 ($0.51) to GBX 45 ($0.54) in a Thursday, July 28 report. Credit Suisse Group raised its price target on Lloyds Banking Group from GBX 71 ($0.86) to GBX 72 ($0.87) in a Thursday, July 28 report. UBS Group raised its price target on Lloyds Banking Group from GBX 58 ($0.70) to GBX 61 ($0.74) in a Thursday, April 28 report. Finally, Deutsche Bank Aktiengesellschaft raised its price target on Lloyds Banking Group from GBX 61 ($0.74) to GBX 64 ($0.77) in a Friday, July 29 report. One analyst assigned the stock a sell rating, three issued a hold rating and eight issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.00.
About Lloyds Banking Group
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Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the UK. It operates through three segments: Retail; The Commercial Bank; and insurance and heritage. The Retail segment offers a range of financial services products, including current accounts, savings accounts, mortgages, auto finance, unsecured loans, leasing solutions and credit cards to individuals and to small businesses.
Want to see what other hedge funds own LYG? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Lloyds Banking Group plc (NYSE:LYG – Get Rating).
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Advisor Group Holdings Inc. buys 116,290 shares of Lloyds Banking Group plc (NYSE:LYG) and breaking news
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